This Article Full Text (PDF) References Alert me when this article is cited Alert me if a correction is posted Services Email this article to a friend Similar articles in this journal Similar articles in ISI Web of Science Alert me to new issues of the journal Add to Saved Citations Download to citation manager Request Permissions Request Reprints Add to My Marked Citations Citing Articles Citing Articles via HighWire Citing Articles via ISI Web of Science (1) Citing Articles via Google Scholar Google Scholar Articles by Aabø, S. Articles by Audunson, R. Search for Related Content Social Bookmarking                   What's this?

Rational choice and valuation of public libraries

can economic models for evaluating non-market goods be applied to public libraries?

Oslo University College, Faculty of Journalism, Library and Information Science, svanhild.aabo{at}jbi.hio.no

Ragnar Audunson

Oslo University College

While sophisticated economic models are well-established for determining the value of non-market goods, there has been some question as to whether there may be problems connected with using these methods for determining the value of public libraries. The background to these economic models is reviewed, noting that the two major preconditions that must be fulfilled are that the method must be compatible with the presupposition of rationality, and it must be able to capture non-use values of public libraries and values not related to the immediate pursuit of individual self interest in ways which are compatible with the presupposition of rationality. The validity of these preconditions for public libraries is discussed, noting that the questions fall into three main problem areas: whether it is possible to define rational behaviour as a wider concept, including behaviour not motivated by the pursuit of self interest, whether this wider definition fits with the assumptions of ‘behavioural’ economic models, or whether the models need to be revised for a wider definition, and whether or not the methods currently available are valid for the purpose in hand. A brief presentation of the theory of rational choice is presented, followed by an examination of the concepts underlying the assumptions of individuals as economic agents seeking to maximize their utility. It is concluded that three conditions must be fulfilled for non-market methods to be useful with regard to public library valuation: they must be able to measure non-use values as well as use values, they must be capable of integrating valuation motives which extend beyond the pursuit of individual self interest, and they must not violate the assumption of rationality. Among the methods for valuing non-market goods, the contingent valuation method seems to fulfil these conditions and should, therefore, be tested in a public library context.

CiteULike    Connotea    Del.icio.us    Digg    Reddit    Technorati    What's this?

This article has been cited by other articles:

				S. Aabo The role and value of public libraries in the age of digital technologies Journal of Librarianship and Information Science, December 1, 2005; 37(4): 205 - 211. [Abstract] [PDF]